Which of the following is not counted in the GNP of the United States? Lütfen birini seçin: O A. The wage earned by a Japanese citizen who who works in Japan. O B. The wage of a U.S. citizen who works in a foreign country for a foreign firm. OC The interest earned by a U.S. bank on loans to a business firm located in Brazil. OD The value of services that are produced by state and local governments in the United States. O E. The profit earned by a restaurant located in the United States but owned by a Mexican company

Which of the following is not counted in the GNP of the United States? Lütfen birini seçin: O A. The wage earned by a Japanese citizen who who works in Japan. O B. The wage of a U.S. citizen who works in a foreign country for a foreign firm. OC The interest earned by a U.S. bank on loans to a business firm located in Brazil. OD The value of services that are produced by state and local governments in the United States. O E. The profit earned by a restaurant located in the United States but owned by a Mexican company

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Instructions: Use the interactive tool to plot Lorenz curves for the information in the table. Quintile 1st % of Income, United States, 5 2010 % of Income, Bangladesh, 2010 9 2nd 10 13 3rd 14 16 United States data from Census.gov, before-tax income, rounded to 1/100ths. Data for Bangladesh from WorldBank.org, rounded to 1/100ths. 4th 20 21 5th 51 41 Report your answers to two decimal places. According to these data, the Gini coefficient for the United States in 2010 is The Gini coefficient for Bangladesh in 2010 is These data indicate that in 2010, income inequality is (Click to select) in the United States compared to Bangladesh.
Mo is smarter than Larry; that is, he has greater ability. How is Mo's demand for schooling related to Larry's demand for schooling? O Mo's schooling demand curve lies to the right of Larry's schooling demand curve. O They have the same schooling demand curve, but Mo chooses more schooling along that curve. O Mo's schooling demand curve lies to the left of Larry's schooling demand curve. Mo's schooling demand curve is Larry's schooling demand curve plus the ability bias. Christy will live and work forever, A graduate fellowship waives her tuition. Christy maximizes her wealth by going to graduate school for two years. When she leaves graduate school at s-18, her wage equals the present value of the annual wage gain over her whole career. O the interest rate. O schooling demand O the tuition that other students pay. If everyone is identical in terms of preferences, ability, and interest rates, then more-educated workers than less-educated workers. are no better off O work shorter…
Describe what benefits may come from a reproductive policysuch as China’s. Now describe several problems that mayresult.Do you think a government should be able to enforcestrict penalties for citizens who fail to abide by such a policy?Why or why not? What alternatives to China’s policy can yousuggest for dealing with the resource demands of a rapidlygrowing population?
The table shows the distribution of personal income in the United States in 2016. Percentage of total income Households Poorest 20 percent 3.1 Second 20 percent Third 20 percent Fourth 20 percent Richest 20 percent 8.2 14.3 23.2 51.2 For all U.S. households to receive an equal share of income, what percentage of total income would the poorest 20 percent of households have to receive from higher-income groups? What percentage would the second poorest have to receive? >>> Answer to 1 decimal place. The poorest 20 percent of households would have to receive percent. The second poorest 20 percent of households have to receive percent.
Convergence of the income gap has been most dramatic between Select one: O a. South America and the United States. Ob. the Central European countries and the United States. O c. Africa and the United States. O d. Hong Kong and the United States.
The United States has established a progressive income tax system, where a worker’s tax rate onearnings increases as she earns more money. There are 168 hours in a given week. Assume thatfor the first 56 hours worked, the tax rate is t1, which means that the net real wage is w*(1-t1).After working the 56th hour, the worker jumps to a higher tax rate t2. After the 112th hourworked, the individual jumps to an even higher tax rate, t3.(a) During most election years, some politicians argue that a having a flat tax system isbetter. Assume that there is a proposal to institute a flat tax, where all workers pay a taxrate equal to t4, which is greater than t3. On the same set of axes, graph the budgetconstraints associated with the progressive tax system and the flat tax system. Make sureto label all of the slopes.(b) Would moving to this proposed flat tax system likely encourage more or fewer hoursworked for relatively high-wage workers? Make sure to explain your answer (a writtenexplanation…
Wealth, earnings, and disposable income are just three of several ways of looking at inequality. Imagine a household that earns $80,000 per year from labor. In that year, it also receives an income of $3,000 from investments, pays $12,000 in tax, and receives $7,000 in transfers from the state. Which of the following is its market income and its disposable income? O $83,000; $71,000. O $83,000 $78,000. O $80,000; $68,000. O $80,000; $75,000. J
2. Assume that in the state of Kentucky, Bill is guaranteed S400 of welfare benefits if he does not work at all. They are allowed a disregard of $100 and face a tax rate of 50%. He has a nonlabor income equal to zero and if the works he can carn a wage of $10 per hour. His total time is 200 hours a woek. a. How many hours of leisure is Bill consuming at his break even point? b. Graph the budget constraint, labeling the break even point and other breaks in the curve as well as slopes of each line. Draw Bill's indifference curves such that he chooses to work 5 hours a month.
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Complete the table. Income Quintile Share of Income $15,000 Bottom $20,000 $30,000 2nd $30,000 $35,000 3rd $40,000 $45,000 4th $50,000 $55,000 Top $80,000 If $4000 is taxed from the top earner and transferred to the lowest earner, would that increase or decrease the share of income held by the top quintile? Would this transfer increase or decrease the share of income held by the bottom quintile? Would this have any effect on the 2nd quintile? The 3rd? The 4th? Would this transfer increase, decrease, or have no effect on income inequality in this group? Redistributing income from the highest earner to the lowest one would reduce the utility of the top earner and increase the utility of the lowest earner. But what would happen to the overall utility of the…
SLO-4.1. The amount of money people have to spend after buying necessities such as food, clothing and housing is Osavings Odiscretionary income Onet income Ogross income
The following question has 4 parts (a.-d.), parts b. to d. will be revealed after submitting your answer by hitting "Verify" on the preceding sections. Suppose an economy is composed of 10 individuals. The following table shows their annual income in thousands of dollars. Individual Individual 1 Individual 2 Individual 3 Individual 4 Individual 5 Individual 6 Individual 7 Individual 8 Individual 9 Individual 10 Income 46 80 96 33 74 54 48 28 83 10
at job group(Occupation) was the smallest among immigrants? Why do you think so few people from that group came to the United States?2.) What job group was the largest? Why do you think so many people from that group came to the United States?